Power Corp of Canada Buys New Holdings in Prologis, Inc. (NYSE:PLD)

Power Corp of Canada bought a new stake in shares of Prologis, Inc. (NYSE:PLD – Get Rating) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 4,107 shares of the real estate investment trust’s stock, valued at approximately $417,000.

Several other institutional investors have also added to or reduced their stakes in PLD. Price T Rowe Associates Inc. MD boosted its holdings in shares of Prologis by 27.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 13,071,004 shares of the real estate investment trust’s stock worth $1,328,016,000 after purchasing an additional 2,823,799 shares during the period. PGGM Investments bought a new stake in Prologis during the 3rd quarter valued at $183,115,000. Massachusetts Financial Services Co. MA raised its position in Prologis by 49.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,138,858 shares of the real estate investment trust’s stock valued at $522,109,000 after purchasing an additional 1,691,045 shares in the last quarter. FMR LLC raised its position in Prologis by 6.0% during the 2nd quarter. FMR LLC now owns 24,083,514 shares of the real estate investment trust’s stock valued at $2,833,425,000 after purchasing an additional 1,361,120 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in Prologis during the 3rd quarter valued at $134,276,000. Hedge funds and other institutional investors own 75.84% of the company’s stock.

Wall Street Analysts Forecast Growth

PLD has been the subject of several recent research reports. StockNews.com lowered Prologis from a “hold” rating to a “sell” rating in a research report on Friday, March 10th. Wells Fargo & Company boosted their price target on Prologis to $141.00 in a research note on Wednesday, December 14th. Truist Financial boosted their price target on Prologis from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. Morgan Stanley boosted their price target on Prologis from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, January 23rd. Finally, Barclays dropped their price target on Prologis from $162.00 to $160.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Prologis Price Performance

NYSE:PLD opened at $120.01 on Thursday. The stock has a market cap of $110.82 billion, a PE ratio of 27.59, a P/E/G ratio of 2.99 and a beta of 0.99. Prologis, Inc. has a one year low of $98.03 and a one year high of $174.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50 day moving average price of $124.37 and a 200 day moving average price of $116.73.

Prologis (NYSE:PLD – Get Rating) last issued its quarterly earnings data on Wednesday, January 18th. The real estate investment trust reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.03. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.46 billion. Prologis had a return on equity of 7.71% and a net margin of 56.33%. The firm’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 earnings per share. Equities research analysts expect that Prologis, Inc. will post 5.52 EPS for the current fiscal year.

Prologis Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be given a dividend of $0.87 per share. This is a positive change from Prologis’s previous quarterly dividend of $0.79. This represents a $3.48 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, March 16th. Prologis’s dividend payout ratio (DPR) is currently 80.00%.

About Prologis

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Prologis, Inc engages in providing logistics solutions and services. It operates through the Real Estate and Strategic Capital segments. The Real Estate segment includes rental operations and development. The Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities.